June 29, 2010

GBP/USD�s Test of Resistance Presents Scalping Opportunity

The GBP/USD continues to trade sideways despite a disappointing mortgage approvals report which shown new loans were flat at 49.8 despite expectations of an improvement to 51.0. The pair has also withstood a broader flight to safety which had the dollar gaining against most majors, as the sterling continues to find a bid from the new budget.

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[Source: DailyFX Forex Market News]

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